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Date: 2015-08-19

Xiangyang Automobile Bearing obtained goverment subsidies of RMB 1.795million

Xiangyang Automobile Bearing Co., Ltd announced on Monday that the company received government subsidies of 1.795 million in total. The money was allocated to the company’s account at the end of July, 2015.

According to relevant provisions of Accounting Standard for Business Enterprise, the money mentioned above will be directly included in the company's 2015 operating income.

The the money mentioned above referred to Xiangyang Bearing Industrial Development Fund of RMB 860,000 and Stable Employment Subsidies of RMB 935,000.

 


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